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RFISD to pay off Randolph Elementary maintenance note June 19, adding roughly $400,000 to annual revenue
Summary
District staff told trustees the planned June 19, 2025 payoff of the Series 2020 maintenance note will add about $400,000 annually to district revenue and enable teacher pay raises without running a deficit, according to the CFO and superintendent.
The board heard that RFISD will pay off the Randolph Elementary School Maintenance Note, Series 2020, on June 19, 2025 to avoid early‑payment penalties and improve the district’s operating position.
CFO Lorrie Remick and Superintendent Dr. Brian Holt said paying the note off as planned will increase annual revenue capacity by approximately $400,000, which district leaders said would allow them to continue providing teacher pay raises without creating a deficit budget. Remick said the original note was structured as a 10‑year obligation and the district intended to retire it early when feasible.
Trustees approved the payoff as part of the consent agenda. The district stated the payoff timing was chosen to avoid prepayment penalties.
